Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.06 million 8.5% contingent income issuer callable yield notes linked to S&P 500
New York, Dec. 12 – BofA Finance LLC priced $2.06 million of contingent income issuer callable yield notes due April 30, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting Nov. 30 on any monthly call date.
If the index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the index declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income issuer callable yield notes
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Underlying index: | S&P 500 index
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Amount: | $2,058,000
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Maturity: | April 30, 2026
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Coupon: | 8.5%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If index finishes at or above its 70% threshold value, par; 1% loss for every 1% that index declines if it finishes below its threshold value
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Call: | Starting Nov. 30 on any monthly call date
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Initial level: | 4,186.77
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Downside threshold: | 2,930.74, 70% of initial level
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Coupon barrier: | 2,930.74, 70% of initial level
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Pricing date: | Oct. 25
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Settlement date: | Oct. 30
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09711AXR4
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